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Showing posts from November, 2014

TVARA Board Meeting

The recently released minutes of the TVARA August 8, 2014 board meeting contain many good questions about the retirement system. Reproduced below is the section of the meeting minutes that pertains to the retirement system. I added my comments in red. See the complete meeting minutes here . TVA Retirement System Update - (This portion of the minutes have been edited by Pat Brackett, Director, TVA Retirement Management) As of June 30 we had $7.7 billion in assets. The previous 9 months have been up 11.2 percent, but July was down 1 – 1-1/2 percent. By the Retirement System’s books we are 84-85 percent funded. TVA books are approximately 20 points lower. The economy is getting a little stronger. So far it has been a good fiscal year. The TVARS Board met on July 14, and recommended $350 million to be contributed to Retirement in 2015. However, TVA has their own data and they will decide on the amount. This does not explain why TVA has chosen to rely on its own data rather tha